By the early 1930s,the major powers were taking protectionist measures and the world became locked in a vicious cycle of deflation and a downward spiral of both wages and prices as a result of

Question

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The major powers taking protectionist measures in the form of high tariffs contributed to the downward spiral of both wages and prices, leading to deflation. This worsened the economic conditions, leading to the Great Depression.

By the Early 1930s,the Major Powers Were Taking Protectionist Measures